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The Allure of The Filler Appointment

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The demands on a wholesaler are great.

Both from the advisors they serve and the managers that employ them.

One of those demands is activity.

Most firms have requirements that say a wholesaler should see 12 (low end) to 20 advisors during the course of the week.

In pursuit of those numbers – especially on the more aggressive end of the activity spectrum – we find wholesalers who spend too much time with The Filler.

Not unlike an award ceremony where The Filler is called upon to occupy a bona fide star’s seat while the star is fixing their makeup in the bathroom, The Filler advisor serves but one purpose.

To pad your activity count so you can make the “quota”.

Sadly, that means that you’re wasting time with The Filler – who has no intention of writing (and a proven history of doing) no more than $50k with you in the course of the year – when you could be converting Dabblers or seeing Game Changers.

So, tempting though it may be, you need to stop The Filler appointments – because you’re not winning any awards by seeing them.

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Comments

  1. I agree 100% – the filler is a waste of time and energy; You know and I know it, but management may not believe this. Remember the old saying that 50% of something is better than 100% of nothing? I can’t convert any dabblers or see game changers if I don’t have a job because my activity is below the standard set by management (20/year at my firm). So I play the game.

    There’s a wholesaler at my firm who regularly reports 30 meetings a week. He is the king of fillers. Management loves him. But his sales are shockingly low. He is 10 years at the firm in the same territory. Doing 30 meetings a week should make his sales unrivalled. Management falls into the trap of thinking that activity equals sales.

    I’ve tried to manage this issue upward for 3 years with no results. How do I show management the error of their ways?

    • @David;
      I do know it – as you said. I also know that “showing management the error of their ways” may prove fruitless as well. I say ‘may’ because the we also know that the minimums are in place for a reason – you need to have minimum standards in place. That said, if the firm is rewarding on shear number of appointment, say through annual appointment trophies, then that may be one piece of the battle you could have the discussion centered around. I’ll keep marinating on that ……

  2. There are only threee rules:
    1. See the RIGHT people
    2. See ENOUGH of them
    3. Deliver a COMPELLING MESSAGE.

    Should be easy enough, right? So why do we all perpetually fall short of Rule 1 by seeing lame ducks? For the same reason our clients, the FAs, keep dripping on pleasant people who are bad prospects — they TALK to us.